SMMT Offers Further Statement On Brexit Risk

The Society of Motor Manufacturers and Traders (SMMT) is one of the largest and most influential trade associations in the UK. It supports the interests of the UK automotive industry at home and abroad, promoting a united position to government, stakeholders and the media.

Mike Hawes, SMMT Chief Executive had the following statement to offer in relation to the ongoing Brexit saga: “We welcome the Exiting the European Union Committee report and its categorical finding that a ‘no deal’ Brexit would be a fundamental risk to the UK automotive industry’s competitiveness and jobs. We have always been clear about the devastating consequences of ‘no deal’, and as the report says, planning for such an outcome has already ‘had a chilling effect on investment in the sector.

“UK and EU automotive industries are deeply integrated and it is vital we maintain all the conditions that have made us globally competitive. As echoed in the report, at the very least, this means tariff-free trade, frictionless borders. ‘No deal’ must be avoided at all costs or risk irreversible damage to this vital sector.”

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